Hernando De Soto is the Founder and President of the Institute for Liberty and Democracy (ILD) in Peru – CIPE’s first developing-country partner. ILD and De Soto shaped Peru’s economic modernization by influencing some 400 state initiatives, regulations and laws; CIPE replicated this success by forming thousands of partnerships with business associations, think tanks and civil society groups worldwide. For this podcast, De Soto joins CIPE Executive Director Andrew Wilson to discuss the importance of the informal economy, the central role of property rights, and the early successes of the ILD-CIPE partnership.